US Energy Information Administration and Goldman Sachs Lower Oil Price Forecast for 2024

In mid-December, the US Energy Information Administration reduced the price of “Brent” brand crude oil in the North Sea, as well as the bank “Goldman Sachs” significantly reduced the oil price forecast for 2024.

Only a month ago, the agency predicted that a barrel of oil would cost an average of 93 dollars next year. The latest forecast shows that in the first half of 2024, the average price of a barrel will be almost a tenth lower than previously forecast, but in the second half of the year it will drop slightly.

However, the forecast price is still higher than the current one ($78 per barrel). The US Energy Information Administration adds that the increase in global oil supplies this year is due to the reduction in oil production by OPEC countries.

2023-12-25 22:01:00
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